As of March 2023, India has 12 banks operated by the government, commonly known as public sector banks (PSBs). These banks are under the ownership of the central government. The list of these 12 government banks in India includes:
- State Bank of India (SBI)
- Punjab National Bank (PNB)
- Bank of Baroda (BoB)
- Bank of India (BoI)
- Central Bank of India
- Canara Bank
- Union Bank of India
- Indian Overseas Bank (IOB)
- Punjab and Sind Bank
- Indian Bank
- UCO Bank
- Bank of Maharashtra
Initially, there were 27 public sector banks in India. However, following a series of mergers that combined some banks into larger entities, the number has been reduced to 12. The Reserve Bank of India (RBI) is the main regulatory body that oversees all banking operations in India, including these government banks.